Drilling Fluids Market Is Expected to Generate Huge Profits by 2023: Vendors- Schlumberger Limited, Halliburton Inc., Baker Hughes Incorporated

Global Drilling Fluids Market Information Report, By Type (Water Based Fluid, Oil-Based Fluid, and Synthetic Based Fluid), By Application (Onshore and Offshore) and By Region - Global Forecast To 2023

Pune, India - October 12, 2017 /MarketersMedia/ —

Drilling fluid is the mixture of water, oil caly, & various chemicals. Drilling fluid is also called as drilling mud. Drillling Fluids plays a crucial role in oil and gas exploration activities. While drilling it perform varioys functions such as mud cools the drill bit and lubricate its teeth, it carries the drill cutting to surface and eliminate the drillpipe stuck problem. Mud maintain the hydrostatic pressure to prevent formation fluids from entering into the well bore. New oil reserves discoveries across the globe and increasing shale gas activities in U.S. driving the growth of the market. Recently, US Geological Survey Agency estimated that, the Bossier and Haynesville Formations, on and offshore along with the U.S. Gulf Coast contains 4 billion barrels of oil, 304.4 trillion cubic feet of natural gas, and 1.9 billion barrels of natural gas liquids. Hence, in the coming years, shale gas drilling in the U.S. is increase significantly, which ultimately increases the demand of drilling fluids. However, stringent government regulations for drilling operations may hamper the growth of the market.

Hence, Drilling Fluids Market is expected to reach a market size of USD 69.9 million by the end of the forecast period at CAGR of 14.05%.

Request a Sample Copy @ https://www.marketresearchfuture.com/sample_request/4329

Market Research Analysis
Based on type, water based drilling fluid accounted for the largest market share of 55.90% in 2016, with a market value of USD 4,706.6 Million and is projected to grow at the highest CAGR of 7.52% during the forecast period. Water-based fluids (WBF) are the most commonly used drilling fluid systems. This fluid system is less expensive, requires less chemical treatment before disposal, and their eco-friendly properties are anticipated to fuel the demand of water based fluids during the forecast period. Oil based fluid was the second-largest market in 2016, valued at USD 2,248.0 Million in 2016; it is projected to grow at a CAGR of 6.66%. In oil based fluids, oil is in continuous phase. Oil-based muds are better for greater depths or in directional or horizontal drilling, which place greater stress on the drilling apparatus.

Based on application, onshore accounted for the largest market share of 69.40% in 2016, with a market value of USD 5,843.2 Million and is projected to grow at a CAGR of 6.80% during the forecast period. Offshore was the second-largest market in 2016, valued at USD 2,576.4 Million in 2016; it is projected to grow at the highest CAGR of 7.53%.

The key players of global drillingF fluids market are
• Schlumberger Limited (France),
• Halliburton Inc. (U.S.),
• Baker Hughes Incorporated (U.S.),
• Newpark Resources Inc. (U.S.),
• National Oilwell Varco. (USA),
• Scomi Group Bhd (Malaysia),
• TETRA Technologies, Inc. (U.S.),
• Canadian Energy Services & Technology Corp. (Canada),
• GEO Drilling Fluids, Inc. (U.S.)
• Anchor Drilling Fluids USA, Inc. (U.S.)
• others

For further information on this report, visit @ https://www.marketresearchfuture.com/reports/drilling-fluids-market-4329

Scope of the Report
This study provides an overview of the global drilling fluids market, tracking two market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Latin America Europe, Asia-Pacific (APAC) and Middle East & Africa. The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global Drilling Fluids market by its concrete type, application, end-use and region.
Global Drilling Fluids Market, By Type
• Water Based Drilling Fluid
• Oil-Based Drilling Fluid
• Synthetic Based Drilling Fluid
Global Drilling Fluids Market, By Application
• Onshore
• Offshore

About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact Info:
Name: Akash Anand
Email: Send Email
Organization: Market Research Future
Address: Magarpatta Road, Hadapsar,
Phone: 6468459349

Source URL: https://marketersmedia.com/drilling-fluids-market-is-expected-to-generate-huge-profits-by-2023-vendors-schlumberger-limited-halliburton-inc-baker-hughes-incorporated/249541

For more information, please visit https://www.marketresearchfuture.com

Source: MarketersMedia

Release ID: 249541

More News From redshiftdaily.com

France names winners of anti-Trump climate change grants

Dec 12, 2017

PARIS — Eighteen climate scientists from the U.S. and elsewhere hit the jackpot Monday as French President Emmanuel Macron awarded them millions of euros in grants to relocate to France for the rest of Donald Trump's presidential term. The "Make Our Planet Great Again" grants — a nod to Trump's "Make America Great Again" campaign slogan — are part of Macron's efforts to counter Trump on the climate change front. Macron announced a contest for the projects in June, hours after Trump declared he would withdraw the U.S. from the Paris climate accord. More than 5,000 people from about 100...

Trump wants to send man back to moon, on to Mars

Dec 12, 2017

WASHINGTON — President Donald Trump wants to send man back to the moon — and on to Mars. Trump signed a policy directive Monday instructing the National Aeronautics and Space Administration to "refocus America's space program on human exploration and discovery." The move, Trump said, "marks an important step in returning American astronauts to the moon for the first time since 1972 for long-time exploration." "This time we will not only plant our flag and leave our footprint," he said, "we will establish a foundation for an eventual mission to Mars, and perhaps someday, to many worlds beyond." Past presidents,...

The Latest: 18 climate scientists win French grants

Dec 12, 2017

PARIS — The Latest on the French president's climate change grants (all times local): 8:30 p.m. American climate scientist Camille Parmesan is elated at the prospect of spending the next five years doing her research in France instead of the U.S. She's one of 18 initial winners announced Monday of a special contest launched by President Emmanuel Macron in response to U.S. President Donald Trump's rejection of the Paris climate accord. In an interview with The Associated Press, Parmesan, of the University of Texas at Austin, described funding challenges for climate science in the U.S. and a feeling that "you...

The Latest: County says hackers tried another attack

Dec 12, 2017

CHARLOTTE, N.C. — The Latest on a cyberattack on North Carolina's Mecklenburg County (all times local): 5:30 p.m. A North Carolina county says hackers have tried new attacks on its computer systems after it refused to pay them a ransom for frozen data. Mecklenburg County manager Dena Diorio sent an email Thursday to county employees advising them that hackers were targeting the county primarily through fraudulent email attachments. No further damage to the systems was reported. Diorio said the county was disabling employees' ability to open attachments generated through Dropbox and Google Docs. She advised staff to generally limit its...

After cyberattack, much of county's business done on paper

Dec 12, 2017

CHARLOTTE, N.C. — North Carolina's largest metro area was discovering just how hard it is to conduct business without county computers that handle numerous transactions on Thursday, a day after local leaders refused to pay hackers who froze their system. Mecklenburg County computer systems that collect property taxes, handle building permits and process jail inmates were out of commission while technology workers made digital repairs with backed-up data. Officials say the fixes will take days. County officials were also taking new precautions against fraudulent emails because hackers have launched a new attack in response to their refusal to pay ransom....

Weather, 20 December
Houston Weather
+7

High: +11° Low: -2°

Humidity: 83%

Wind: NNE - 7 KPH

Canberra Weather
+27

High: +27° Low: +17°

Humidity: 87%

Wind: W - 20 KPH

Roissy-en-France Weather
+6

High: +6° Low: -5°

Humidity: 87%

Wind: ENE - 7 KPH

Florence Weather
+9

High: +9° Low: +6°

Humidity: 97%

Wind: ENE - 17 KPH

Parga Weather
+7

High: +16° Low: +4°

Humidity: 100%

Wind: SE - 25 KPH